Texas Capital Bank Wealth Management Services Inc. increased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 16.5% during the first quarter, HoldingsChannel reports. The institutional investor held 85,354 shares of the financial services provider after purchasing an additional 12,097 shares during the quarter. Texas Capital Bank Wealth Management Services Inc.’s holdings in JPMorgan Chase & Co. were worth $11,635,000 at the end of the most recent reporting period.
Other large investors have also increased or reduced their stake in the company. Joseph Group Capital Management bought a new stake in JPMorgan Chase & Co. during the fourth quarter at a value of $1,353,000. Evolution Advisers Inc. bought a new position in JPMorgan Chase & Co. stock in Q4 worth $52,000. Leverty Financial Group LLC bought a new stock position in JPMorgan Chase & Co. in Q4 worth $54,000. Delos Wealth Advisors LLC increased its stake in JPMorgan Chase & Co. shares by 13,433.3% in Q4. Delos Wealth Advisors LLC now owns 406 shares of the financial services provider valued at $64,000 after acquiring 403 additional shares in the last quarter. Finally, Landmark Wealth Management LLC bought a new stock position in JPMorgan Chase & Co. in Q1 worth $46,000. Institutional investors and hedge funds hold 70.35% of the company’s shares.
JPMorgan Chase & Co. stock performance
Shares of JPMorgan Chase & Co. opened at $113.42 on Wednesday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt ratio of 1.14. The company has a 50-day moving average price of $118.60 and a two-hundred-day moving average price of $131.94. JPMorgan Chase & Co. has a 1-year low of $106.06 and a 1-year high of $172.96. The company has a market capitalization of $333.12 billion, a P/E ratio of 9.10, a PEG ratio of 2.04 and a beta of 1.15.
JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last released its quarterly results on Thursday, July 14. The financial services provider reported earnings per share of $2.76 for the quarter, meeting analyst consensus estimates of $2.76. JPMorgan Chase & Co. achieved a return on equity of 15.29% and a net margin of 30.41%. The company posted revenue of $30.72 billion in the quarter, versus a consensus estimate of $31.82 billion. During the same period last year, the company posted EPS of $3.78. The company’s revenues increased by 0.8% compared to the same quarter last year. As a group, analysts expect JPMorgan Chase & Co. to post EPS of 11.24 for the current year.
JPMorgan Chase & Co. announces dividend
The company also recently announced a quarterly dividend, which will be paid on Sunday, July 31. Shareholders of record on Wednesday, July 6 will receive a dividend of $1.00. The ex-dividend date is Tuesday, July 5. This represents an annualized dividend of $4.00 and a dividend yield of 3.53%. JPMorgan Chase & Co.’s dividend payout ratio is currently 32.10%.
Analysts set new price targets
A number of research analysts have recently commented on the company. Royal Bank of Canada lowered its price target on JPMorgan Chase & Co. to $130.00 in a Thursday, July 14 research note. Citigroup downgraded JPMorgan Chase & Co. from a “neutral” rating to a “buy” rating and lowered its price target for the company from $145.00 to $135.00 in a Tuesday 12 research note. July. Wells Fargo & Company lowered its price target on JPMorgan Chase & Co. from $120.00 to $118.00 and set an “equal weight” rating for the company in a Thursday, July 14 research note. Morgan Stanley lowered its price target on JPMorgan Chase & Co. from $149.00 to $127.00 and set an “underweight” rating for the company in a Tuesday, July 12 report. Finally, Berenberg Bank upgraded JPMorgan Chase & Co. from a “sell” to a “hold” rating and set a price target of $120.00 for the company in a Monday, July 18 report. One financial analyst has assigned the stock a sell rating, eight have issued a hold rating and nine have assigned the stock a buy rating. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $145.95.
About JPMorgan Chase & Co.
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JPMorgan Chase & Co operates as a worldwide financial services company. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB) and Asset & Wealth Management (AWM). The CCB segment offers s deposit, investment and lending products, payments and consumer services; lending, deposit, cash management and payment solutions for small businesses; mortgage origination and management activities; residential mortgages and home equity loans; and credit card, car loan and leasing services.
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